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Exclusive: Curbing Tax-Driven Business Moves Abroad a Priority-U.S. Treasury
Source: nyt/reuters
The Obama administration is focused on finding ways to curb tax-motivated reincorporations to other countries by U.S. businesses, a U.S. Treasury official told Reuters on Wednesday.
"Cracking down on companies that reincorporate overseas to reduce their U.S. taxes is a priority for the administration," a Treasury official said in an emailed statement.
U.S. drugmaker Pfizer Inc said on Monday it has made takeover bids for UK rival AstraZeneca Plc in a possible deal to merge the two companies into a UK holding company with a UK tax domicile.
Read more: http://www.nytimes.com/reuters/2014/04/30/us/politics/30reuters-usa-tax-treasury-crackdown.html?hp